Post
Topic
Board Tokens (Altcoins)
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
by
alemacgo
on 26/02/2018, 18:58:04 UTC
alemacgo, you're offtopic.
if you want to discuss about venezuelan politics or laws, then go to another thread or forum.

If anybody was off-topic it was the OP, I was just replying to a comment and said I'd get back to the discussion.

In any case, Venezuelan Law is very much relevant for an investor that wants to put money on the petro. Maduro's regime claims the petro is legal when lawyerly consensus says it is not. He also claims that it's backed by oil when it's not (read the Prodavinci article I linked upthread – Prodavinci is one of the few Venezuelan news outlets the government doesn't control). It's backed by a VEF-denominated barrel of oil, and the government has hyperinflated the price of the bolívar. They're printing tons more as we speak.

All of these things are relevant to analyze whether the petro is an awful investment.